Red Hat profit rises

The introduction of a new version of its Linux distribution and new JBoss software helped Red Hat increase profits to US$16.2 million (NZ$20.9 million) on revenue of US$118.9 million, in its financial first quarter ended May 31.

The report compares favourably to the same quarter a year ago, in which Red Hat earned a profit of US$13.75 million on revenue of US$84 million.

The company released Red Hat Enterprise Linux 5 in March, and also introduced new developer class and enterprise class editions of JBoss Java-based software, following its acquisition of JBoss in 2006. Red Hat also rolled out its service-oriented architecture (SOA) strategy in the quarter.

Red Hat says, after excluding one-time charges and adjusting for stock compensation and tax expenses, its net income for the quarter was US$33.7 million.

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